20. March 2012 13:03
San Diego is in the top 10 of U.S. metro areas that have a rising commercial real estate market. A report from Jones Lang LaSalle, a professional and financial services firm, calls for a broader recovery in these top 10 markets’ residential neighborhoods. San Diego’s economic strengths are in the high-tech and defense industries, with solid support in education, health care and tourism: all of which provide sustained demand for increases in local commercial space. The LaSalle report says this strength in commercial is paving the way for recovery in the residential markets: “Continued gains in the office and employment sectors….and “increased disposable income will drive consumption and thus demand, resulting in lower home vacancy and foreclosure rates, as well as higher sales volumes and appreciating prices.” The correlation appears logical.